Severe acute respiratory syndrome-coronavirus-2 (SARS-CoV-2) was declared a global pandemic in 2020. Having rapidly spread around the globe, with the emergence of new variants, there is a crucial need to develop diagnostic kits for its rapid detection. Since it validated accuracy and reliability, the reverse transcription polymerase chain reaction (RT-PCR) test has been declared the gold standard for disease detection. However, despite its reliability, the requirement of specialized facilities, reagents, and duration of a PCR run limits its usage for rapid detection. There is thus a continuous increase in the design and development of rapid, point-of-care (PoC), and cost-effective diagnostic kits. In this review, we discuss the potential of carbon-based biosensors for target-specific detection of coronavirus disease 19 (COVID-19) and present an overview of investigation within the timeframe of the last four years (2019-2022), which have developed novel platforms using carbon nanomaterial-based approaches for viral detection. The approaches discussed offer rapid, accurate, and cost-effective strategies for COVID-19 detection for healthcare personnel and research workers.